"She kept telling me how she wanted to be a singer, so I thought 'this is perfect, but it needs to be about what's going on in your life' and her life right now is pretty much school," Ludacris told The Huffington Post.

After brainstorming ideas with his daughter, Ludacris decided to make the site a tool that teaches not only academic lessons, but real-world lessons, too.

"The site touches on subjects like the rewards of hard work and the importance of learning manners as well as the idea that doing good deeds for others will bring good into your life – which is the meaning of the word Karma," Ludacris said in a statement.

Ludacris also hopes the website offers Karma a taste of entrepreneurship. On the day of the site's launch, the rapper tweeted, "As of today, my daughter has become an entrepreneur by the age of 10!”

"My mother taught me [about entrepreneurship] at an early age and I'd like to pass on the same thing to my daughter," said Ludacris. "It's about creating wealth, it's about putting her in a position where she can be her own boss and learn early on about business."